First Trust Advisors LP lowered its stake in shares of Luminex Corp. (NASDAQ:LMNX) by 52.0% during the second quarter, Holdings Channel reports. The firm owned 38,490 shares of the company’s stock after selling 41,661 shares during the period. First Trust Advisors LP owned about 0.09% of Luminex Corp. worth $779,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in Luminex Corp. by 16.2% in the first quarter. Legal & General Group Plc now owns 7,911 shares of the company’s stock worth $154,000 after buying an additional 1,103 shares during the last quarter. Huntington Asset Advisors Inc. purchased a new stake in shares of Luminex Corp. during the first quarter worth approximately $194,000. KBC Group NV purchased a new stake in shares of Luminex Corp. during the second quarter worth approximately $213,000. Capital Fund Management S.A. purchased a new stake in shares of Luminex Corp. during the second quarter worth approximately $229,000. Finally, Suntrust Banks Inc. purchased a new stake in shares of Luminex Corp. during the second quarter worth approximately $236,000. 79.85% of the stock is currently owned by institutional investors and hedge funds.
Luminex Corp. (NASDAQ:LMNX) traded down 0.13% during trading on Friday, hitting $23.17. The company’s stock had a trading volume of 107,976 shares. The firm has a market cap of $1.01 billion, a PE ratio of 24.19 and a beta of 0.42. Luminex Corp. has a one year low of $17.29 and a one year high of $23.75. The company has a 50-day moving average of $21.91 and a 200 day moving average of $20.87.
Luminex Corp. (NASDAQ:LMNX) last posted its earnings results on Thursday, July 28th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.15 by $0.18. The firm had revenue of $64.20 million for the quarter, compared to analyst estimates of $61.20 million. Luminex Corp. had a return on equity of 13.65% and a net margin of 16.60%. Luminex Corp.’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, equities analysts forecast that Luminex Corp. will post $0.63 earnings per share for the current year.
A number of analysts have commented on LMNX shares. Zacks Investment Research cut Luminex Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Jefferies Group lifted their price target on Luminex Corp. from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 28th. Finally, JPMorgan Chase & Co. raised Luminex Corp. from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $18.00 to $22.00 in a research report on Thursday, August 18th. Six equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $22.20.
About Luminex Corp.
Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries. The Company has a range of instruments using its xMAP technology, including its LUMINEX 100/200 systems offer 100-plex testing; the Company’s FLEXMAP 3D system is its high-throughput, 500-plex testing system, and its MAGPIX system provides 50-plex testing using imaging rather than flow cytometry.
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